Probi has commenced the repurchase of treasury shares
The Board of Directos of Probi AB has resolved to utilise the authorisation granted by the Annual General Meeting of Shareholders to repurchase shares in the company.
Probi’s Annual General Meeting on April 22nd, 2010 authorized the board to acquire shares up to a maximum holding of 10 percent of all outstanding shares in the company with the purpose to increase shareholder value and adapt the company’s capital structure to its capital requirements. The authorization is valid until the Annual General Meeting in April 2011.
The Board of Directors has resolved to repurchase a maximum of 150,000 shares for a maximum amount of SEK 8 million. The acquisition will take place via the NASDAQ OMX Stockholm at a price within the registered price interval prevailing at the time of the acquisition.
The total number of shares in Probi amounts to 9,365,300 and an acquisition of 150,000 corresponds to 1.6 percent of the total number of outstanding shares. Probi currently owns no treasury shares.
The information is such that Probi AB must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
Probi is a leading player in the probiotic research and the development of efficient and well-documented probiotics. The research areas include: gastrointestinal tracts, immune system, metabolic syndrome and stress and recovery. Probi’s customers are leading companies in the functional foods and dietary supplement business areas. Total income for 2010 was MSEK 81.1, of which the majority represented royalties. Probi’s share is listed on the Nasdaq OMX Stockholm, Small Cap. Probi has approximately 4,200 shareholders. For more information, please visit www.probi.com.
FOR FURTHER INFORMATION, CONTACT:
Per Lundin, Chairman of the Board, mobile: +46 705 74 11 71, e-mail: email@example.com